Raymond James Raises Black Stone Minerals (NYSE:BSM) Price Target to $22.00

Black Stone Minerals (NYSE:BSMGet Rating) had its price objective lifted by investment analysts at Raymond James from $16.00 to $22.00 in a note issued to investors on Monday, Benzinga reports. The brokerage currently has a “strong-buy” rating on the oil and gas producer’s stock. Raymond James’ target price would suggest a potential upside of 48.35% from the stock’s previous close.

Several other equities analysts also recently commented on the stock. Zacks Investment Research upgraded shares of Black Stone Minerals from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Thursday, January 27th. StockNews.com downgraded Black Stone Minerals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, April 6th. TheStreet upgraded Black Stone Minerals from a “c” rating to a “b” rating in a research note on Thursday. Finally, Piper Sandler upped their target price on shares of Black Stone Minerals from $13.00 to $16.00 and gave the stock a “neutral” rating in a research note on Thursday, April 7th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Black Stone Minerals has a consensus rating of “Buy” and an average target price of $34.60.

BSM opened at $14.83 on Monday. The stock’s 50-day moving average price is $13.13 and its 200 day moving average price is $12.05. Black Stone Minerals has a 12-month low of $9.47 and a 12-month high of $15.73. The firm has a market cap of $3.10 billion, a price-to-earnings ratio of 19.77 and a beta of 1.25. The company has a current ratio of 1.40, a quick ratio of 1.40 and a debt-to-equity ratio of 0.12.

Black Stone Minerals (NYSE:BSMGet Rating) last issued its quarterly earnings results on Monday, February 21st. The oil and gas producer reported $0.26 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.05. Black Stone Minerals had a net margin of 50.66% and a return on equity of 29.37%. The company had revenue of $179.42 million for the quarter, compared to analyst estimates of $104.66 million. During the same period in the prior year, the firm earned $0.12 earnings per share. On average, research analysts forecast that Black Stone Minerals will post 1.41 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Geneos Wealth Management Inc. purchased a new stake in Black Stone Minerals during the third quarter worth approximately $33,000. Steward Financial Group LLC purchased a new stake in shares of Black Stone Minerals during the 4th quarter worth approximately $32,000. McIlrath & Eck LLC acquired a new position in shares of Black Stone Minerals in the 3rd quarter valued at $40,000. Chilton Capital Management LLC acquired a new position in shares of Black Stone Minerals in the 4th quarter valued at $71,000. Finally, Guardian Wealth Management Inc. acquired a new stake in Black Stone Minerals during the 4th quarter worth $102,000. 15.71% of the stock is currently owned by institutional investors and hedge funds.

Black Stone Minerals Company Profile (Get Rating)

Black Stone Minerals, L.P., together with its subsidiaries, owns and manages oil and natural gas mineral interests. It owns mineral interests in approximately 16.8 million gross acres, nonparticipating royalty interests in 1.8 million gross acres, and overriding royalty interests in 1.7 million gross acres located in 41 states in the United States.

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